ShockWave Medical (NASDAQ:SWAV – Get an Assessment) saw its price target lowered by stock analysts Canaccord Genuity Group from $221.00 to $190.00 in a research note released Tuesday to investors, reports The Fly. Canaccord Genuity Group’s price target would suggest upside potential of 63.92% from the current share price.

Several other analysts have also recently published reports on SWAV. Wells Fargo & Company lowered its price target on ShockWave Medical from $235.00 to $176.00 in a report on Tuesday. TheStreet upgraded shares of ShockWave Medical from a “d” rating to a “c” rating in a Monday, March 7 research report. Bank of America began covering shares of ShockWave Medical in a Wednesday, March 2 report. They set a “buy” rating for the company. Morgan Stanley lowered its target price on ShockWave Medical from $210.00 to $199.00 and set an “equal weight” rating on the stock in a research report on Friday, February 18. Finally, SVB Leerink raised its price target on ShockWave Medical from $160.00 to $190.00 and gave the company an “outperform” rating in a Friday, February 18 research note. One research analyst gave the stock a hold rating, six gave the stock a buy rating and one gave the stock a strong buy rating. Based on MarketBeat data, ShockWave Medical has an average rating of “Buy” and a consensus price target of $212.89.

NASDAQ:SWAV shares opened at $115.91 on Tuesday. The company has a debt ratio of 0.05, a quick ratio of 4.71 and a current ratio of 5.54. ShockWave Medical has a 1-year low of $113.36 and a 1-year high of $249.73. The stock has a market capitalization of $4.15 billion, a P/E ratio of -386.37 and a beta of 1.50. The stock has a 50-day simple moving average of $181.35 and a 200-day simple moving average of $179.78.

ShockWave Medical (NASDAQ:SWAV – Get Rating) last reported quarterly results on Monday, May 9. The company reported earnings per share of $0.39 for the quarter, beating consensus analyst estimates of $0.19 by $0.20. ShockWave Medical had a negative net margin of 3.85% and a negative return on equity of 4.18%. The company posted revenue of $93.70 million for the quarter, compared to $86.41 million expected by analysts. In the same period a year earlier, the company posted ($0.68) earnings per share. ShockWave Medical revenue increased 193.7% compared to the same quarter last year. Analysts predict that ShockWave Medical will post 1.47 earnings per share for the current year.

Separately, Vice President Trinh Phung sold 3,176 shares in a transaction dated Tuesday, April 12. The shares were sold at an average price of $215.61, for a total transaction of $684,777.36. Following the sale, the vice president now owns 29,695 shares of the company, valued at $6,402,538.95. The transaction was disclosed in a document filed with the SEC, which is available via this hyperlink. Additionally, director Antoine Papiernik sold 60,000 shares of the company in a transaction that took place on Thursday, March 10. The stock was sold at an average price of $163.38, for a total value of $9,802,800.00. The disclosure of this sale can be found here. In the past three months, insiders have sold 99,242 shares of the company worth $16,799,585. Company insiders own 15.30% of the company’s shares.

Institutional investors have recently increased or reduced their stake in the company. Sittner & Nelson LLC increased its position in shares of ShockWave Medical by 7.0% during the third quarter. Sittner & Nelson LLC now owns 2,140 shares of the company worth $441,000 after purchasing an additional 140 shares during the period. Duality Advisers LP bought a new position in shares of ShockWave Medical in the fourth quarter for a value of $387,000. Strs Ohio increased its equity stake in ShockWave Medical by 3.5% during the fourth quarter. Strs Ohio now owns 8,800 shares of the company valued at $1,569,000 after purchasing an additional 300 shares during the period. CIBC Asset Management Inc. increased its stake in shares of ShockWave Medical by 11.0% during the third quarter. CIBC Asset Management Inc. now owns 1,425 shares of the company valued at $293,000 after purchasing an additional 141 shares in the last quarter. Finally, Prospera Financial Services Inc increased its stake in shares of ShockWave Medical by 17.0% during the third quarter. Prospera Financial Services Inc now owns 6,118 shares of the company valued at $1,260,000 after purchasing an additional 887 shares in the last quarter. Institutional investors and hedge funds hold 89.06% of the company’s shares.

About ShockWave Medical (Get an evaluation)

ShockWave Medical, Inc., a medical device company, engages in the development and commercialization of intravascular lithotripsy technology for the treatment of calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve disease in the whole world. The company offers M5 catheters for the treatment of peripheral arterial disease (PAD) above the knee; C2 catheters for the treatment of coronary heart disease; and S4 catheters for the treatment of PAD below the knee.

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